산소 시장 - 세계 산업 규모, 점유율, 동향, 기회, 예측 : 형태별, 용도별, 지역별 및 경쟁(2021-2031년)

The Global Oxygen Market is projected to expand from a valuation of USD 48.97 Billion in 2025 to USD 65.33 Billion by 2031, registering a CAGR of 4.92%. As a vital colorless and odorless element, oxygen functions as an essential feedstock across industries ranging from heavy manufacturing to medical care. The sector is largely driven by the steel and metallurgy industries, which require high-purity oxygen to optimize combustion efficiency in blast furnaces. Furthermore, the chemical industry employs the gas for oxidizing raw materials, while the healthcare sector depends on it for critical respiratory treatments. Data from the European Industrial Gases Association indicates that in 2024, the global industrial gas market was worth €86.9 billion, with nitrogen and oxygen together comprising roughly 56% of the total.

A major obstacle hindering market progression is the substantial energy intensity associated with cryogenic air separation processes. Producing high-purity oxygen necessitates significant electricity consumption, causing operational expenditures to be heavily influenced by fluctuating energy rates. Such price volatility can diminish manufacturer profit margins and disrupt supply chains, especially in areas prone to energy crises or grid instability. As a result, increased production costs are frequently passed on to end-users, which may suppress demand in industrial applications that are sensitive to price changes.

Market Driver

The growth of the steel and metallurgy sectors in emerging economies acts as a fundamental catalyst for the global oxygen market. High-purity oxygen is indispensable for enriching air in blast furnaces and electric arc furnaces, a process that raises combustion temperatures to improve steel quality and shorten production cycles. This reliance is especially pronounced in developing nations, where rapid infrastructure expansion drives the need for massive amounts of structural steel, leading to higher industrial gas usage. According to the World Steel Association's 'Short Range Outlook October 2024', global steel demand is expected to recover by 1.2% in 2025, reaching 1,772 Mt, a trend that guarantees continued volume demand for oxygen in major manufacturing centers.

Additionally, the rising adoption of Green Hydrogen and Carbon Capture Technologies is a strategic driver shifting the market toward decarbonization efforts. Oxygen is crucial for partial oxidation processes used to create low-carbon hydrogen and is vital for oxy-combustion technologies that enable efficient carbon capture by generating concentrated CO2 streams. Leading industry participants are allocating substantial capital to develop infrastructure for these clean energy uses. For example, Air Liquide announced in a June 2024 press release an investment of up to $850 million to build air separation units capable of providing 9,000 metric tons of oxygen daily for a low-carbon hydrogen initiative. Highlighting the financial magnitude of suppliers facilitating these shifts, Linde plc reported third-quarter 2024 sales of $8.4 billion.

Market Challenge

The significant energy intensity required for cryogenic air separation poses a major hurdle to the expansion of the global oxygen market. Cryogenic distillation is a power-heavy process that demands substantial electricity to compress and cool air to the point of liquefaction. Consequently, energy costs make up a large proportion of the variable production expenses for manufacturers. When energy markets face volatility or prolonged price hikes, the cost of operating air separation units rises sharply, cutting into profit margins and causing financial precarity for producers unable to absorb these sudden increases.

These cost pressures directly inhibit market growth by raising the final price of oxygen, which in turn reduces demand in price-sensitive industrial sectors. Producers are frequently forced to pass escalating energy costs onto end-users, rendering high-purity oxygen increasingly unaffordable for heavy industries already dealing with constrained budgets. According to the 'World Steel Association', global steel demand was projected to shrink to 1,751 million tonnes in 2024, suggesting that this key customer base is under economic pressure and highly vulnerable to rising input costs. As primary industrial consumers navigate these compounded financial difficulties, their capacity to maintain or grow oxygen usage declines, effectively slowing overall market development.

Market Trends

There is an accelerating trend toward adopting Pressure Swing Adsorption (PSA) and Vacuum Swing Adsorption (VSA) technologies as industrial users and healthcare facilities aim to mitigate supply chain risks linked to bulk liquid delivery. By establishing independent on-site production systems, these sectors can generate oxygen at the point of consumption, thereby stabilizing operational expenses and guaranteeing supply during periods of peak demand. This transition is highlighted by growing orders for gas generation and processing machinery that supports decentralized infrastructure. For instance, in its 'Second-quarter report 2024', Atlas Copco noted a 6% organic revenue increase in its Compressor Technique division, largely fueled by robust orders for gas and process compressors utilized in such applications.

Concurrently, the market is experiencing significant growth in the development of miniaturized portable oxygen concentrators (POCs) tailored for patients with chronic respiratory issues who maintain active lifestyles. Manufacturers are focusing on ultra-lightweight designs and connectivity options that enable remote monitoring and better patient compliance, moving away from cumbersome traditional tanks. This surge in demand for advanced mobility solutions is evident in the recent financial results of specialized medical device companies. Inogen's 'Second Quarter 2024 Financial Results' from August 2024 revealed a 6.1% revenue increase to $88.8 million over the previous year, driven mainly by stronger business-to-business sales. This financial momentum underscores a growing end-user preference for compact, tech-enabled respiratory devices that support home-based care and mobility.

Key Market Players

• Linde
• Air Liquide
• Air Products
• Praxair
• Messer
• Taiyo Nippon Sanso
• Air Water Inc.
• Messer Group
• Gulf Cryo
• Iwatani

Report Scope

In this report, the Global Oxygen Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Oxygen Market, By Form

• Gas
• Liquid
• Solid

Oxygen Market, By Application

• Metals & Mining
• Chemical
• Oil & Gas
• Healthcare
• Others

Oxygen Market, By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Oxygen Market.

Available Customizations:

Global Oxygen Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

• 1.1. Market Definition
• 1.2. Scope of the Market
  • 1.2.1. Markets Covered
  • 1.2.2. Years Considered for Study
  • 1.2.3. Key Market Segmentations

2. Research Methodology

• 2.1. Objective of the Study
• 2.2. Baseline Methodology
• 2.3. Key Industry Partners
• 2.4. Major Association and Secondary Sources
• 2.5. Forecasting Methodology
• 2.6. Data Triangulation & Validation
• 2.7. Assumptions and Limitations

3. Executive Summary

• 3.1. Overview of the Market
• 3.2. Overview of Key Market Segmentations
• 3.3. Overview of Key Market Players
• 3.4. Overview of Key Regions/Countries
• 3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Oxygen Market Outlook

• 5.1. Market Size & Forecast
  • 5.1.1. By Value
• 5.2. Market Share & Forecast
  • 5.2.1. By Form (Gas, Liquid, Solid)
  • 5.2.2. By Application (Metals & Mining, Chemical, Oil & Gas, Healthcare, Others)
  • 5.2.3. By Region
  • 5.2.4. By Company (2025)
• 5.3. Market Map

6. North America Oxygen Market Outlook

• 6.1. Market Size & Forecast
  • 6.1.1. By Value
• 6.2. Market Share & Forecast
  • 6.2.1. By Form
  • 6.2.2. By Application
  • 6.2.3. By Country
• 6.3. North America: Country Analysis
  • 6.3.1. United States Oxygen Market Outlook
    • 6.3.1.1. Market Size & Forecast
      • 6.3.1.1.1. By Value
    • 6.3.1.2. Market Share & Forecast
      • 6.3.1.2.1. By Form
      • 6.3.1.2.2. By Application
  • 6.3.2. Canada Oxygen Market Outlook
    • 6.3.2.1. Market Size & Forecast
      • 6.3.2.1.1. By Value
    • 6.3.2.2. Market Share & Forecast
      • 6.3.2.2.1. By Form
      • 6.3.2.2.2. By Application
  • 6.3.3. Mexico Oxygen Market Outlook
    • 6.3.3.1. Market Size & Forecast
      • 6.3.3.1.1. By Value
    • 6.3.3.2. Market Share & Forecast
      • 6.3.3.2.1. By Form
      • 6.3.3.2.2. By Application

7. Europe Oxygen Market Outlook

• 7.1. Market Size & Forecast
  • 7.1.1. By Value
• 7.2. Market Share & Forecast
  • 7.2.1. By Form
  • 7.2.2. By Application
  • 7.2.3. By Country
• 7.3. Europe: Country Analysis
  • 7.3.1. Germany Oxygen Market Outlook
    • 7.3.1.1. Market Size & Forecast
      • 7.3.1.1.1. By Value
    • 7.3.1.2. Market Share & Forecast
      • 7.3.1.2.1. By Form
      • 7.3.1.2.2. By Application
  • 7.3.2. France Oxygen Market Outlook
    • 7.3.2.1. Market Size & Forecast
      • 7.3.2.1.1. By Value
    • 7.3.2.2. Market Share & Forecast
      • 7.3.2.2.1. By Form
      • 7.3.2.2.2. By Application
  • 7.3.3. United Kingdom Oxygen Market Outlook
    • 7.3.3.1. Market Size & Forecast
      • 7.3.3.1.1. By Value
    • 7.3.3.2. Market Share & Forecast
      • 7.3.3.2.1. By Form
      • 7.3.3.2.2. By Application
  • 7.3.4. Italy Oxygen Market Outlook
    • 7.3.4.1. Market Size & Forecast
      • 7.3.4.1.1. By Value
    • 7.3.4.2. Market Share & Forecast
      • 7.3.4.2.1. By Form
      • 7.3.4.2.2. By Application
  • 7.3.5. Spain Oxygen Market Outlook
    • 7.3.5.1. Market Size & Forecast
      • 7.3.5.1.1. By Value
    • 7.3.5.2. Market Share & Forecast
      • 7.3.5.2.1. By Form
      • 7.3.5.2.2. By Application

8. Asia Pacific Oxygen Market Outlook

• 8.1. Market Size & Forecast
  • 8.1.1. By Value
• 8.2. Market Share & Forecast
  • 8.2.1. By Form
  • 8.2.2. By Application
  • 8.2.3. By Country
• 8.3. Asia Pacific: Country Analysis
  • 8.3.1. China Oxygen Market Outlook
    • 8.3.1.1. Market Size & Forecast
      • 8.3.1.1.1. By Value
    • 8.3.1.2. Market Share & Forecast
      • 8.3.1.2.1. By Form
      • 8.3.1.2.2. By Application
  • 8.3.2. India Oxygen Market Outlook
    • 8.3.2.1. Market Size & Forecast
      • 8.3.2.1.1. By Value
    • 8.3.2.2. Market Share & Forecast
      • 8.3.2.2.1. By Form
      • 8.3.2.2.2. By Application
  • 8.3.3. Japan Oxygen Market Outlook
    • 8.3.3.1. Market Size & Forecast
      • 8.3.3.1.1. By Value
    • 8.3.3.2. Market Share & Forecast
      • 8.3.3.2.1. By Form
      • 8.3.3.2.2. By Application
  • 8.3.4. South Korea Oxygen Market Outlook
    • 8.3.4.1. Market Size & Forecast
      • 8.3.4.1.1. By Value
    • 8.3.4.2. Market Share & Forecast
      • 8.3.4.2.1. By Form
      • 8.3.4.2.2. By Application
  • 8.3.5. Australia Oxygen Market Outlook
    • 8.3.5.1. Market Size & Forecast
      • 8.3.5.1.1. By Value
    • 8.3.5.2. Market Share & Forecast
      • 8.3.5.2.1. By Form
      • 8.3.5.2.2. By Application

9. Middle East & Africa Oxygen Market Outlook

• 9.1. Market Size & Forecast
  • 9.1.1. By Value
• 9.2. Market Share & Forecast
  • 9.2.1. By Form
  • 9.2.2. By Application
  • 9.2.3. By Country
• 9.3. Middle East & Africa: Country Analysis
  • 9.3.1. Saudi Arabia Oxygen Market Outlook
    • 9.3.1.1. Market Size & Forecast
      • 9.3.1.1.1. By Value
    • 9.3.1.2. Market Share & Forecast
      • 9.3.1.2.1. By Form
      • 9.3.1.2.2. By Application
  • 9.3.2. UAE Oxygen Market Outlook
    • 9.3.2.1. Market Size & Forecast
      • 9.3.2.1.1. By Value
    • 9.3.2.2. Market Share & Forecast
      • 9.3.2.2.1. By Form
      • 9.3.2.2.2. By Application
  • 9.3.3. South Africa Oxygen Market Outlook
    • 9.3.3.1. Market Size & Forecast
      • 9.3.3.1.1. By Value
    • 9.3.3.2. Market Share & Forecast
      • 9.3.3.2.1. By Form
      • 9.3.3.2.2. By Application

10. South America Oxygen Market Outlook

• 10.1. Market Size & Forecast
  • 10.1.1. By Value
• 10.2. Market Share & Forecast
  • 10.2.1. By Form
  • 10.2.2. By Application
  • 10.2.3. By Country
• 10.3. South America: Country Analysis
  • 10.3.1. Brazil Oxygen Market Outlook
    • 10.3.1.1. Market Size & Forecast
      • 10.3.1.1.1. By Value
    • 10.3.1.2. Market Share & Forecast
      • 10.3.1.2.1. By Form
      • 10.3.1.2.2. By Application
  • 10.3.2. Colombia Oxygen Market Outlook
    • 10.3.2.1. Market Size & Forecast
      • 10.3.2.1.1. By Value
    • 10.3.2.2. Market Share & Forecast
      • 10.3.2.2.1. By Form
      • 10.3.2.2.2. By Application
  • 10.3.3. Argentina Oxygen Market Outlook
    • 10.3.3.1. Market Size & Forecast
      • 10.3.3.1.1. By Value
    • 10.3.3.2. Market Share & Forecast
      • 10.3.3.2.1. By Form
      • 10.3.3.2.2. By Application

11. Market Dynamics

• 11.1. Drivers
• 11.2. Challenges

12. Market Trends & Developments

• 12.1. Merger & Acquisition (If Any)
• 12.2. Product Launches (If Any)
• 12.3. Recent Developments

13. Global Oxygen Market: SWOT Analysis

14. Porter's Five Forces Analysis

• 14.1. Competition in the Industry
• 14.2. Potential of New Entrants
• 14.3. Power of Suppliers
• 14.4. Power of Customers
• 14.5. Threat of Substitute Products

15. Competitive Landscape

• 15.1. Linde
  • 15.1.1. Business Overview
  • 15.1.2. Products & Services
  • 15.1.3. Recent Developments
  • 15.1.4. Key Personnel
  • 15.1.5. SWOT Analysis
• 15.2. Air Liquide
• 15.3. Air Products
• 15.4. Praxair
• 15.5. Messer
• 15.6. Taiyo Nippon Sanso
• 15.7. Air Water Inc.
• 15.8. Messer Group
• 15.9. Gulf Cryo
• 15.10. Iwatani

16. Strategic Recommendations

17. About Us & Disclaimer